Exhibit (a)(3)



June 12, 2006

TO:   UNIT HOLDERS OF PRESIDENTIAL ASSOCIATES I, LIMITED PARTNERSHIP

SUBJECT: OFFER TO PURCHASE UNITS

Dear Unit Holder:

As  described  in  the  enclosed  Offer  to  Purchase  and  related  Letters  of
Transmittal   (the  "Offer")  the   Purchasers   named  in  the  attached  Offer
(collectively  the  "Purchasers")  are  offering  to purchase up to 100 Units of
limited partnership interest (the "Units") in PRESIDENTIAL ASSOCIATES I, LIMITED
PARTNERSHIP (the "Partnership") at a purchase price equal to:

                                $10,000 per Unit

The Offer will provide you with an  opportunity  to liquidate  all, or a portion
of, your investment in PRESIDENTIAL  ASSOCIATES I, LIMITED  PARTNERSHIP  without
the usual transaction costs associated with market sales or partnership transfer
fees.

After  carefully  reading the enclosed Offer, if you elect to tender your Units,
mail (using the  enclosed  pre-addressed,  postage  paid  envelope) or fax (then
mail) a duly completed and executed copy of the Letter of  Transmittal  (printed
on purple paper) and change of address forms,  and any other documents  required
by the Letter of Transmittal, to the Depositary for the Offer at:

                         MacKenzie Patterson Fuller, LP
                               1640 School Street
                            Moraga, California 94556
                            Facsimile: (925) 631-9119

If you have any  questions or need  assistance,  please call the  Depository  at
800-854-8357.

This Offer expires (unless extended) July 21, 2006.